LG Electronics Enjoys 66% Share in OLED TV Market in Europe


OLED TVs are growing fast in the premium TV market in Europe -- so much so that gfu of Germany said in a recent report that OLED TVs are the winner of the German TV market.


Founded in 1973 as the Society for the Promotion of Consumer Electronics in Germany, gfu is the organizer behind the IFA, Europe’s largest consumer electronics and information technology (IT) exhibition.

TV sales amounted to 1.6 billion euros in Germany in the first half of this year, with OLED TVs accounting for 29 percent of the total, according to gfu. This represented an increase of 7 percentage points from the same period of 2021. Last year, German OLED TV sales grew by 24 percent from the previous year to 1.10 billion euros, breaking through the milestone of 1 billion euros for the first time in history.

Europe is the biggest TV market in the world and the largest battlefield among global home appliance makers. According to Omdia, a global market research institute, Europe accounted for 23 percent of the global TV sales of 213.5 million units in 2021.

In particular, Europe has a high preference for premium TVs priced over US$1,500, so sales of OLED TVs have been on a steady rise. Last year, about 2.9 million units, or 44 percent of the global OLED TV sales, were sold in Europe. This year, about 3.4 million units are expected to sell in Europe, posting a 17 percent jump.

The share of OLED TVs in the European premium TV market is expected to exceed 50 percent this year. Omdia predicted that the percentage of OLED TVs costing over US$1,500 per unit in the European TV market will grow to 55 percent this year and 66 percent next year. In the European OLED TV market, LG Electronics leads with a market share of 65.8 percent, followed by Sony with 17 percent and Philips with 11 percent.

LG Display is leading the world in OLED panels. It is supplying about 90 percent of OLED panels for TVs around the world.

 

SOURCE : BUSINESS KOREA by KIM Eun-JIN

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